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MNI (Washington)

U.S. December producers price index rose 0.3%, a tenth short of market expectations, while PPI excluding food and energy gained 0.1%, also a tenth lower than expected. PPI excluding food, energy and trade services rose 0.4%, better than expected.

Energy prices, which jumped 5.5% last month, the most since June, drove the headline increase. Higher gas prices accounted for nearly half of overall increase in goods PPI, the BLS said Friday.

PPI for services fell 0.1% in December, the first decrease since April, driven by trade services, which lost 0.8%.

MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com